E-Cigarette Ban in US Fuels the Fear of Ban on Bitcoin

After the imposition of restriction on the sale of flavored e-cigarette, bitcoin proponents fear that Trump may now ban cryptocurrency. White House and the Food and Drug Administration issued the notice for the ban on September 12, which will now lead to the disappearance of e-cigarette from the market.

“The Trump Administration is making it clear that we intend to clear the market of flavored e-cigarettes to reverse the deeply concerning epidemic of youth e-cigarette use that is impacting children, families, schools, and communities,” Health and Human Services Secretary Alex Azar said in a statement.

Although, it is being made clear that e-cigarette could be allowed in the future if they could prove that the recent surge in lung diseases is not due to this. Also, manufacturers need to prove that their products are safe.

This sudden ban has led to fears in the crypto business that the Trump government could very soon extend such a ban on Bitcoin too, as the President is not such a fan of digital currencies. Back in July, he had tweeted how he was not in favor of Bitcoin and other cryptocurrencies. He had further stated as to how these could aid in unlawful activities such as money laundering and drug trafficking. There are reports that the first lady was a strong proponent against e-cigarettes.

“This is un-related but shows White House can issue an ‘executive order’ banning anything. And could even ban bitcoin,” Fundstrat Global Advisors co-founder, Tom Lee, aired his fear.

Such a ban could be a big setback for the Crypto-market as the US is a major market for these digital currencies. Consumers and Businesses, both are apprehensive about the way that Trump government is imposing sudden restrictions.

Launch of the First ‘Celebrity Cryptocurrency-PAC Coin’ By Manny Pacquiao

Manny Pacquiao added another feather to his hat by becoming the first celebrity to launch his cryptocurrency- PAC Coin. Pacquiao launched this digital token in a rock star style by serenading a crowd of 2000 with his love songs for free in Manila. The PAC coin is listed on Singapore’s Global Crypto Offering Exchange (GCOX). These coins can be used by the fans of Pacquiao to buy his merchandise and also interact with him on various social media platforms.

Some of the celebrity investors of the first ‘celebrity cryptocurrency’ are former footballer Michael Owen and a key member of the ruling family of Abu Dhabi, Sheikh bin Zayed al-Nahyan. Danish tennis star Caroline Wozniacki and US singer Jason Durelo are also in the queue to launch their cryptocurrency. Jeffrey Lin, founder and CEO of GCOX, told Reuters that “We are not here to raise a lot of money but to build an ecosystem.” According to him, GCOX is not being driven by the potential profit earned by these endeavors, but, it could lead to a wider reach of these digital coins among the mass.

The 40-year old Emmanuel Dapidran Pacquiao, alias Manny Pacquiao rose to fame as a boxing champion. Currently, a senator in the Philippines, he has also dabbled with acting, singing, professional basketball and has also worked in the defense sector. He has many love songs to his credit. He is the first boxer to have won world titles in eight different weight categories. This year in July, he became the World Boxing Association welterweight champion, after defeating Keith Thurman. With the launch of his own PAC crypto-coin he became the first celebrity to have own cryptocurrency listed on Singapore’s Global Crypto Offering Exchange. As Richard Parris, co-founder of Saito, a company creating a blockchain, puts it that PAC coin was “an interesting idea: essentially creating a digital collectible that can be exchanged for physical ones.” With this Manny Pacquiao has made a move to increase his connect with his fans and has also ensured that they could reach out to him and his personal branded products effortlessly.

STRATEGY ANALYTICS REPORT UNVEILS CONSUMER APATHY TOWARDS iPhones

Amidst the trade war between USA and China, a global slump has been witnessed in the sales of iPhones in the second quarter of this year. The trend has been witnessed by a global technology research and solution firm ‘Strategy Analytics’ in its recently published report.

Ahead of the upcoming launch in September, Apple has seen a decline in their sale and has been plunged to the third position in the global smartphones market.

The launch at Headquarters in California will replace the X series (XS, XS Max, and XR) with Pro series with three new iPhones which will feature an ultra-wide triple camera on the rear with high-resolution features similar to professional video cams. But, presumably the lack of 5G technology may hamper sales.

According to the latest reports by Strategy Analytics, Samsung has retained its global leader position in the smartphones market, with 22% of market share followed by Huawei with a 17 % share. Whereas Apple has been pushed to the third position with 11% market share in the second quarter of this year, though Apple plays strongly in Asian and Hispanic market with a 50% market share. Xiomi captures the fourth position with 9 % share, and Oppo stands fifth with almost 8 % share.

The new figures and rankings from Strategy Analytics and other global market research firms Canalys and Gartner echo the same scenario and their reports have hit the market when global smartphone shipments have dropped for seven consecutive quarters in recent years. The expected decline may be significant in Europe, Japan, and North America and India as well.

Lack of innovations or marginal value for the money are the key factors that are instrumental in consumer’s apathy towards these devices. But most of the research firms believe that introduction of 5G technology would boost the market in 2020. Thought the high price along with this technology could deter the demand for the 5G equipped phones.

An online survey has been conducted by Strategy Analytics with 2,500 US smartphone users including Gen Z ( 18– 24 years ), Gen Y ( 25-39 Years), Gen X (40 -50 years) and Boomers (55 -75 years ), taking into consideration their gender, ethnicity , their cost of the current phone, and the replacement cycle of these consumers.

The report reveals that Gen Z expects Wow features with value for the price, whereas premium consumers desire the latest networking technology like 5G for faster operations. The women consumers and Gen Z desire for camera superiority and quality. Gen X and Gen Y users expect time management and unplug features in the phones.

The figures revealed that on average, the Apple users have been replacing their phones after 18 months, whereas Samsung users replace their phones after 16.5 months. Right now this trend has been extended to 33 months as the loyal consumers of both these brands are in wait and watch mode.

According to another survey done by BankMyCell, the loyalty of Apple users has hit its lowest since 2011. 26% of Apple users have moved onto another brand. As per another global market research firm Gartner, the largest slowdown can be observed in Western Europe, Japan and in North America.

Eyeing on Apple launch in September 2019 where iPhone 11 will be unveiled, Apple CEO Tim Cook has admitted that the sales slid to $26 billion but has expressed positive improvements in iPhone user’s trends.

VeChain Price Analysis: VeChain (VET) Moves With A Flattening Trend

Data: VeChain has grown a bit in today’s trading as well. However, the coin is still in the red zone and is facing a bearish trend.

The VeChain Foundation has partnered with Open Nodes, a hyper-connected platform which aims to be inclusive, connecting enterprises, in order to grow the blockchain ecosystem in Singapore. VeChain will be a technical partner of Open Nodes and will help in linking industries and the right vendors.

Current Statistics of VeChain (On August 27, at UTC 11:35):

  • The trading price of VeChain (VET) was trading around $0.0045534.
  • Against Bitcoin, the crypto was valued around 0.00000044 BTC per chip.
  • At present, the rank of VeChain (VET) is 31st in the crypto market.
  • Additionally, the market capitalization of the cryptocurrency was around 250,819,968 USD.
  • At the same time, the 24-hour trading volume in the altcoin was 29,584,727 USD.
  • With a return on investment of -69.93%, the number of VeChain chips circulating in the market was 55,454,734,800 VET.

VET to USD Price Comparison:

If you look at the 5-day chart of VeChain, it started with a hike of 13.23% and climbed to the level of 0.00466911 USD. The crypto hovered around that level for a while, and in the second half on August 24, the coin made another jump of 11.43% and touched the 0.0049968 USD. However, it soon declined by 14.57% and stooped to the level of 0.004311 USD. Thereafter, VeChain kept hovering around those levels with an overall variation range of 6.97%, till the time of writing.

VeChain Price Prediction:

A similar action like yesterday is continued in VeChain. Although the crypto has moved a bit up, it is far from making any assuring movement. For now, the immediate resistance for the coin is at 0.0046865 USD and the support level is at 0.0043245 USD.

Conclusion:

Open Nodes is a reputed firm, and the tie-up will help VET at many fronts. As far as trends are concerned, the short term is bearish at present. Additionally, it will most probably give a good return in the long term.

Crypto- White House Warns Against Use of Cryptocurrency in Illicit Drugs Trading

Cryptocurrency is the latest buzz word that has taken the financial world with its boom. Where, on the one hand, it helps the investors to earn huge profits, on the other ground, the virtual currency also fosters illegal transactions as well.

The supreme power of the United States, The White House, made a shocking revelation about the involvement of cryptocurrencies in the drugs market.

The esteemed dignitary, The White House, issued two official statements concerning drug purchases in the U.S. The advisories revealed the direct play of virtual currencies in the concerned transactions.

The official warnings, pointed out to both financial institutions and digital payment platforms, states that the array of ‘convertible cryptocurrencies’ namely Bitcoin, Ethereum, Monero, etc. have the potential to be used and unfortunately have been used for the unlawful purchase and sales transactions of drugs.

The advisories depict convertible virtual currencies as monies because they can be easily converted into paper currencies like the dollar.

In the report, the authorities have specifically mentioned the topic of Schedule II controlled drug, Fentanyl, which finds its entry in the U.S through Mexico and China.

According to the data of the Drug Enforcement Agency, Fentanyl is 80 to 100 times stronger drug than morphine.

The advisory disclosed that “An analysis of sensitive financial data indicates that domestic illicit drug manufacturers, dealers, and consumers use online payment platforms or [convertible virtual currency] to purchase precursor chemicals or completely synthesized narcotics primarily sourced from China.”

The joint effort of the unveiling of the advisories by the White House in collaboration with other government agencies is a positive step to curb the Fentanyl proliferation.

In this effort, the agencies took into consideration different payment methods used by the drug traders, including virtual currencies.

The shutdown of the dark market AlphaBay by the U.S in July 2017, finds its mention in the reports as a major step in stopping the connection between illegal substances and virtual currencies.

A part of the advisories also throws light on the methods of tracking and discovery payments for illegal products, used by the concerned authorities to control the transactions. It describes the use of CVCs like digital wallets, IP addresses as well as transaction hashes.

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) recently also booked and blacklisted three Chinese nationals involved in money laundering and drug smuggling.

NEO Price Analysis: NEO rising upwards, can it touch $11.21 by tomorrow?

NEO started off at the level of $12.40 on 25-July-19 at about 13:00 UTC time. It started to decline post the said date with marginal rise in the price over the next day. There was a very sharp fall on 27-July-19 with NEO prices falling as low as $11.14 at 10:25 UTC time. Till the next day the prices were moving at a gradual pace before it saw a steep fall again at 22:25 UTC on 28-July-19 with prices reaching $10.62. Despite the fall, NEO has managed to bounce back quite well.Since past 2 days, NEO seems to have gathered back its efficiency and at the time of rising this analysis, it is slowly reflecting a rise in the prices.

Let us observe the performance of the coin since past 25-July-19:

Current Data of NEO:

  • Ranking of the coin is at number 16.
  • Market value of NEO was $782,160,673 at 05:34 UTC time.
  • Price of the coin is $11.08 at 06:00 UTC time.
  • 24-hour volume figures are $226,378,865
  • 70,538,831 NEO coins are being traded.
  • ROI of the coin stands at 6,023.55%.

NEO Price Comparison and Future Predictions:

If we analyse the price of the coin since its lowest value of $10.62 of 28-July-19 and the present price, NEO is reflecting a bullish trend by 4%.

We anticipate that NEO will slowly continue to show an upward trend and can reach $11.21 by tomorrow. By the next month, the coin can reach up to $11.47.

Conclusion:

We suggest to sell the NEO coins today as per the present trend of the coin. It if profitable to invest in the NEO coins from the long-term basis. Short term trading may not be that fruitful as it is expected to provide very good returns of more than 16% after the end of this year. NEO has great potential in the coming times and will prove to be a boon to the investors.

Verge (XVG) Price Analysis: How Long Will Bears Continue To Control The Price Of Verge?

ALT: Will The Bear Momentum Continue For Verge?

MD: Verge price may still need more time before it recovers to its original position.

Verge (XVG) price has been in the same range for the past week with not much improvements.

Verge (XVG) is a cryptocurrency on the blockchain platform created to provide improvements for opensource blockchain applications. The price of XVG has taken a severe downturn in the current bearish market, though the bulls are trying hard to regain their lost position. The price of Verge is still undergoing a lot of fluctuations as seen from the 5-day chart, where the price was as high as $ 0.0064 on July 20 and was at a low of $ 0.0059 on July 19 indicating that the price is striving hard to find stability.

The bears are still on a rampage though the bulls are gaining ground. On July 19, the price was at a low of $ 0.0059 which then shot up to $0.0064 on July 20 within a span of 23h 55m to the extent of 9%. The bear sentiment set in and the price fell to $0.0059 on July 21 within 20h 35m to the tune of 7.30%. The price then slowly recovered to $0.0062 on July 22 within 11h 20m to the extent of 5.41%. Within 12h 20m on the sane day, the price had fallen to $ 0.0058, downward movement being 7.30%. Today the price has slightly recovered to trade at $0.0060 indicating a movement of 3.45%. This shows that though the bulls are trying hard to regain the lost position the bears are still strong to pull the price downwards. The sentiment is expected to last for some more time till the market shows stability.

Verge has still a long way to go before it regains its lost position. Analysts expect the short-term trend to be bearish though medium-term looks a little better for the coin. They have kept a target of $ 0.01 for the year end and expect the crypto market to recover by then. Till then, the outlook does not look very promising for Verge though the coin has huge potential.

NEO Price Analysis: NEO stable at $12.38, may reach $13 by tomorrow.

Since the fall in prices on 15-July-19, the coin was slowly moving at the same pace. On 16-July-19 the coin witnessed two sharp falls post which prices continuously dropped and fell to the level of $9.67 on 17-July-19. NEO managed to turn around the bearish run and once again it started to move in an upward manner. Despite the fall the next day wherein the coin touched $10.66 it is still stable and now seems to be rising upwards. We anticipate that NEO will continue with the same trend tomorrow as well.

Let us have a look at the price comparison:

Current Data of NEO:

  • Ranking of NEO maintained at number 17.
  • Market value of NEO was $873,642,922 at 09:44 UTC time.
  • NEO is valued at $12.38 as per 09:50 UTC.
  • 24-hour volume figures are $584,116,202 
  • 70,538,831 NEO coins are in circulation.
  • ROI of the coin stands at 6,720.09%.

NEO Price Comparison and Future Forecast:

As compared to the fall of yesterday wherein the prices fell to $10.66 as per 14:20 UTC and today, the coin reflects an upward trend by 16%.

NEO will continue with the bullish run and will reach $13 by the end of the day tomorrow. After a period of six months, the coin will still be continuing with the same momentum and is expected to reach $14.84 with an increase of almost 20%.

Conclusion:

Advisable to sell the existing NEO coins today. You may also purchase new coins and retain the same for at least 3 and more years will prove to be a profitable investment. The MACD indicator also indicates that the coin is slowly gaining back its momentum and may rise upwards in the coming days to come. The coin has been overbought and oversold yesterday but today seems to be on the neutral side. If the coin continues to rise upwards, the next major resistance level can be seen at $15.15 and $16.93.